HRA Res 2019-11 First Amendment to Sherman Contracts
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF FRIDLEY
COUNTY OF ANOKA
STATE OF MINNESOTA
HRA RESOLUTION NO. 2019 - 11
A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A
FIRST AMENDMENT TO THE RESTATED CONTRACT FOR PRIVATE
REDEVELOPMENT BY AND BETWEEN THE HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF FRIDLEY, MINNESOTA, AND
SHERMAN ASSOCIATES DEVELOPMENT LLC
BE IT RESOLVED by the Board of Commissioners (the "Board”) of the Housing
and Redevelopment Authority in and for the City of Fridley, Minnesota (the "Authority")
as follows:
Section 1. Recitals.
1.01. It has been proposed that the Authority enter into a First Amendment to
the Restated Contract for Private Redevelopment (the “First Amendment”) with
Sherman Associates Development LLC, a Minnesota Limited Liability Company (the
“Redeveloper”).
Section 2. Findings.
2.01. The Board hereby finds that the First Amendment promotes the objectives
as outlined in its Development Program established pursuant to Minnesota Statutes,
Section 469.01 et seq.
2.02. The Board hereby fins that it has approved and executed a Restated
Contract for Private Redevelopment between the Authority and the Redeveloper dated
as of April 4, 2019.
Section 3. Authorizations.
3.01 The President and the Executive Director (the “Officers”) are hereby
authorized to execute and deliver the First Amendment to the Contract when the
following conditions are met:
1. Substantial conformance of a First Amendment to the First Amendment
presented to the Authority as of this date with such additions and
modifications as the Officers may deem desirable or necessary as
evidenced by the execution thereof.
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Adopted by the Board of the Authority this 11 day of July, 2019.
___________________________________
Chairperson
ATTEST:
______________________________________
Executive Director
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